---
title: "Soochow Securities Co., Ltd.: Maintains WEIMING \"Buy\" rating, new material production lines gradually coming into operation bring performance increment"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/262826541.md"
description: "Dongxing Securities Co., Ltd. maintains a \"Buy\" rating on WEIMING, expecting the net profit attributable to the parent company for 2025-2027 to be 3.003 billion yuan, 3.574 billion yuan, and 4.029 billion yuan, respectively. The net profit attributable to the parent company for Q1-Q3 2025 is 2.135 billion yuan, a year-on-year increase of 1.14%. The net profit attributable to the parent company for Q3 is 710 million yuan, a year-on-year increase of 3.23%. The company's equipment orders have increased by 66%, and the production of new material production lines will bring performance increments, with solid waste operations growing steadily. A cooperation agreement has been signed with Guangdong Bangpu, planning to produce 24,000 to 48,000 tons of ternary cathode material precursors annually"
datetime: "2025-10-27T06:50:02.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/262826541.md)
  - [en](https://longbridge.com/en/news/262826541.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/262826541.md)
---

# Soochow Securities Co., Ltd.: Maintains WEIMING "Buy" rating, new material production lines gradually coming into operation bring performance increment

Dongxing Securities Co., Ltd. research report points out that WEIMING achieved a net profit attributable to the parent company of 2.135 billion yuan in Q1-Q3 2025, a year-on-year increase of 1.14%; the net profit attributable to the parent company in Q3 was 710 million yuan, a year-on-year increase of 3.23% and a quarter-on-quarter increase of 0.21%. The performance shows steady growth, profit margins are rising, and free cash flow has turned significantly positive. In Q1-Q3 2025, equipment orders increased by 66% year-on-year, continuously promoting product technology innovation. The waste incineration and collaborative businesses are growing steadily, with the Kunshan project about to be put into production. In addition, WEIMING Shengqing signed a cooperation framework agreement with Guangdong Bangpu Recycling Technology Co., Ltd., planning to sell designated models of ternary cathode material precursors, with a cooperative production capacity of 24,000 to 48,000 tons per year and a cooperation period of three years. Solid waste operations are growing steadily, with an expansion of equipment categories and a significant increase in orders, while new material production lines are gradually being put into operation, bringing performance increments. The forecast for net profit attributable to the parent company for 2025-2027 is maintained at 3.003 billion / 3.574 billion / 4.029 billion yuan, corresponding to 12/10/9 times PE, maintaining a "buy" rating

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